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Apr 30, 2022
Yext Q1 2023 Earnings Report
Announced first quarter fiscal 2023 results with revenue increase and customer count growth.
Key Takeaways
Yext, Inc. reported a 7% year-over-year increase in revenue to $98.8 million for the first quarter of fiscal year 2023. The company's customer count increased by 11% year-over-year, reaching over 2,830. The company is focusing on streamlining the business, improving efficiencies and re-architecting go-to-market strategy.
Revenue increased by 7% year-over-year to $98.8 million.
Customer count increased 11% year-over-year to over 2,830.
Gross profit increased by 6% year-over-year to $74.1 million.
Cash and cash equivalents totaled $248 million.
Yext
Yext
Forward Guidance
Yext provided revenue and non-GAAP net loss per share guidance for the second quarter and full year of fiscal 2023.
Positive Outlook
- Second quarter revenue is projected to be in the range of $99.0 million to $100.0 million.
- Full year revenue is projected to be in the range of $399.3 million to $403.3 million.
- Second quarter non-GAAP net loss per share is projected to be $0.06 to $0.05.
- Full year non-GAAP net loss per share is projected to be $0.12 to $0.10.
Challenges Ahead
- Second quarter revenue guidance includes a negative impact of $1.8 million due to foreign currency exchange rates.
- Full year revenue guidance includes a negative impact of $6.0 million due to foreign currency exchange rates.